BRIDGE Housing has held a first close for its BRIDGE Housing Impact Fund I with more than $90 million, marking a major milestone for the innovative investment platform to accelerate the acquisition, preservation and construction of affordable and workforce housing in high-cost markets.
The initial close brings together a distinguished group of institutional and mission-aligned investors, including KeyBank, BMO, Capital One, U.S. Bank, Century Housing and PGIM, along with an investment from BRIDGE Housing itself, funded in part by proceeds from a recent unrestricted donation from MacKenzie Scott’s philanthropic organization, Yield Giving.
BRIDGE Housing launched the Impact Fund last year and is on course to raise $350 million of equity, unlocking approximately $1 billion in total investment capacity. Investment will focus on acquiring properties in California, Oregon and Washington with expiring affordability restrictions, as well as market-rate units for conversion
